Conditional Convergence Is the Tendency of Economies to Converge

question 58

Multiple Choice

Conditional convergence is the tendency of economies to converge:

• A)all the time.
• B)when they are similar.
• C)only when economic conditions are good.
• D)only when currencies are stable.

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Definitions:

Bargained For

In contract law, referring to an exchange that parties agree upon, which forms the basis for a legally enforceable contract.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to a second party if the latter has reasonably relied on that promise to their detriment.

Reasonable Amount

An amount that is fair and moderate, not excessive or extreme.